2014

Happy Monday. I will be back to normal posting on Tuesday. Here are today's links. Markit Flash PMI, June 2014 - Business Insider Housing Market Falters Amid Rising Prices, Lower-Paying Jobs - Bloomberg BBC News - Did Hyman Minsky find…

Despite my concern over releveraging and increased household debt in the face of low wage growth, I believe the cyclical recovery in the US will remain intact for some time to come. The latest jobless claims numbers give a further boost to…

News links for 19 Jun 2014

News links for 17 Jun 2014

The economic and business paradigm in place in the United States is predicated on a secular increase in household debt that I believe will not last through another cyclical downturn without serious deleveraging. The reason we saw…

News links for 16 Jun 2014

Since I missed links yesterday, here are 30 instead of the usual 20. Starting on Friday, I will be on holiday and won’t be able to post at the normal times. I do intend to write though. So expect posts! Ireland's 10-year borrowing costs…

Going back to my comments from yesterday about the utility of macro, I want to talk a bit about credit excesses and valuation manias. The overall gist here is that manias are endemic to our system because psychology plays a big part in…

The title of this piece is a bit provocative but what follows is not intended to be a hit piece on the field of economics, rather I am going to use two recent articles on economics’ failure as a jumping off point for thinking about this…

Because of the lack of links on Friday, I have 10 more than usual today. BBC News - Japan growth data revised upwards Time to end use of commodities for credit in China | South China Morning Post Why employers prefer retirees who don’t…